Why Every Company Needs Business Call Analytics
Research shows that your business misses, on average, between 17-20% of all the phone calls it receives. That’s one in five calls going unanswered. This is frightening to consider should the lion’s share of your revenue come from telephonic interactions. With business call analytics, that number can drop close to zero.
Unanswered calls result in negative customer experiences, which can cost companies dearly. A report from Forbes unveiled that businesses lose over $75 billion each year because of poor customer services.
Automatically answering and capturing details of missed calls is one advantage of a call analytics solution, but that’s just scratching the surface.
In this article we’re discussing three types of phone calls countless companies still rely on, what exactly call analytics is, and how you can level-up your organisation in 2022 with powerful business call analytics.
Types of business phone calls
1. Inbound phone calls
Phone calls coming into your business via your landline or VOIP telephone infrastructure can be considered incoming calls. The majority of consumers will prefer to interact with your business via telephone instead of contact forms, so incoming calls are often customers looking for information about specific products or industries.
When business call analytics infrastructure is in place, incoming calls are tracked and analysed. This means calls can be replayed for research purposes, helping sales staff not only improve telephonic conversations, but also learning from mistakes that might have cost you them a sale, or – worse still – your customer’s loyalty.
2. Outbound phone calls
In contrast to when your business phone rings, outgoing calls involve punching numbers into dialing pads (someone call the 90s, right?) and making someone else’s phone ring. These are phone calls made by your staff to suppliers, industry partners, and customers.
Cold calling, by definition, involves outgoing calls to customers. With incoming calls, the customer wants something from you. With outgoing calls, you want something from the customer. This opens you up to customer objections, handling these objections is something only the skilled know-how to navigate. Call analytics allows you to improve your cold calling approach by assessing what led to failures in previous telephonic interactions.
3. Missed phone calls
A missed call, simply put, is a business call that is not answered for whatever reason. Think missed calls aren’t necessarily missed opportunities? Here’s a sobering stat: 85% of people who can’t reach your company over the phone won’t try to call you back.
Call analytics software brings peace of mind by capturing important information from missed calls, so you have the opportunity to reach out and possibly save the sale. You can also use missed call data to analyse any internal shortfalls, working towards reducing the prevalence of missed telephone calls.
What exactly is business call analytics?
Artificial intelligence empowers call analytics software to capture and rapidly analyse data from business phone calls. Business call analytics is able to capture information like phone number, call origin, and call duration – but that’s not all.
Where call analytics really shines, though, is when it carefully combs over every moment of every conversation to establish key insights for improving your business’s approach to customer interactions. These include:
– Kinds of products/services callers commonly ask for
– The purpose behind every caller’s phone call
– Factors that lead to missed opportunities
– Factors that lead to successful conversions
– Opportunities to improve conversation skills
The data extracted from your business calls are then processed and pulled into visual reports where current and past statistics can be compared. These can be used by marketing teams, customer service centers, and other departments to assess the impact of various public relations activities they execute.
4 reasons your business should analyse calls
1. Customers
Making sure that your telephone operations are looked after by an automated system means you can offer clients better customer experiences – and not just over the phone. Positive client experiences lead to improved client retention rates and improved customer lifetime value.
2. Marketing
Marketing and advertising teams with access to business call analytics data are empowered to assess their phone-based campaigns and make better future marketing decisions. The ability to capture call data opens marketing teams up to new advertising opportunities they’d otherwise not have without call analytics.
3. Conversions
We already know that one in five business calls is missed, which could stack up to a bunch of lost leads that you’ll never get back – unless you have call analytics. This allows you to capture data from missed calls and get back to the customers after their call was missed, perhaps even leading to a business conversion.
Business Call Analytics in South Africa
Ready to let the power of AI modernise your business and company communications? Not knowing where your calls are coming from means not knowing which promotional efforts are paying off. With business call analytics, you don’t have to guess – and you don’t have to ask either.
Logimeter can grow your business by capturing and analysing sale leads. This way you maximise the potential already within your business while empowering your teams to perform at their best while delivering world-class customer service.
Book a Logimeter demonstration today, or contact us via sales@logimeter.com or 087-150-6225 to discuss how business call analytics can become your company’s secret ingredient for long-term marketplace success.
